Reports indicate that chemicals, plastics and fibres manufacturer Eastman Chemical Co. has agreed to sell its Spain-based PET polymers manufacturing assets.

According to the reports, the potential buyer for the Eastman Chemical Iberia in San Roque is La Seda de Barcelona, which produces synthetic and artificial fabrics and yarns including polyester, polythene and viscose. The sale is subject to approval and financial terms are expected to be released later this year.

The sale will include the company’s PET polymers manufacturing and the related polyester resins business.